Edgestream Partners L.P. Has $2.09 Million Position in CDW Co. (NASDAQ:CDW)

Edgestream Partners L.P. reduced its stake in shares of CDW Co. (NASDAQ:CDW) by 52.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,180 shares of the information technology services provider’s stock after selling 8,884 shares during the quarter. Edgestream Partners L.P.’s holdings in CDW were worth $2,092,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of CDW by 4.6% in the 1st quarter. Vanguard Group Inc. now owns 16,407,542 shares of the information technology services provider’s stock valued at $4,196,721,000 after purchasing an additional 714,393 shares during the period. Wellington Management Group LLP boosted its position in CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider’s stock worth $787,638,000 after acquiring an additional 781,421 shares during the last quarter. Mawer Investment Management Ltd. boosted its position in CDW by 0.9% during the 1st quarter. Mawer Investment Management Ltd. now owns 3,101,924 shares of the information technology services provider’s stock worth $793,410,000 after acquiring an additional 27,753 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in CDW by 3.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,431,573 shares of the information technology services provider’s stock worth $366,168,000 after acquiring an additional 51,450 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in CDW by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,135,792 shares of the information technology services provider’s stock worth $258,196,000 after acquiring an additional 33,235 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CDW

In related news, insider Sona Chawla sold 18,437 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the sale, the insider now owns 22,428 shares in the company, valued at approximately $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is owned by company insiders.

CDW Stock Up 1.6 %

Shares of CDW stock traded up $3.68 on Monday, reaching $232.52. 512,226 shares of the company were exchanged, compared to its average volume of 790,379. CDW Co. has a one year low of $184.99 and a one year high of $263.37. The company has a market capitalization of $31.25 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 3.37 and a beta of 1.04. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35. The company has a 50-day moving average of $225.83 and a 200 day moving average of $233.96.

CDW (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, May 1st. The information technology services provider reported $1.89 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.15). CDW had a net margin of 5.16% and a return on equity of 67.56%. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.94 billion. On average, equities research analysts forecast that CDW Co. will post 9.67 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Friday, May 24th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Thursday, May 23rd. CDW’s dividend payout ratio (DPR) is presently 30.96%.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent research reports. Stifel Nicolaus upped their price target on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Citigroup reduced their price target on CDW from $295.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. reduced their price target on CDW from $280.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 price target for the company in a research report on Friday, June 7th. Finally, Barclays dropped their price objective on CDW from $261.00 to $232.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of “Moderate Buy” and an average target price of $251.11.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.